The Most Active Countries Investing in Startups in 2024 💰

If 2024 showed us anything, it’s that start-ups in the Middle East aren’t slowing down anytime soon. The competition to back the next big thing was fierce last year, with countries across the region stepping up their game to attract fresh entrepreneurial talent. So let’s take a quick breather, Arageek readers, and look at how things played out.

Saudi Arabia continued to dominate as the region’s top investor, pouring a hefty $758.7 million into new ventures. That’s down about 30% from 2023’s billion-dollar-plus investment spree, but still a clear signal that Riyadh isn’t backing off from its tech dreams anytime soon. The Kingdom’s ambitions to be the Middle East’s Silicon Valley still feel as alive and kicking as ever.

Saudi Arabia’s Top Business Incubators and Accelerators Empowering Startups

Meanwhile, Egypt stayed lively with its thriving fintech and digital transformation scene. Cairo, buzzing as always, channelled around $249.9 million into start-ups—about 23% lower than the previous year. Despite the drop, anyone who’s sat sipping tea in Zamalek knows Egypt’s young entrepreneurs are still brimming with enthusiasm.

Over in the UAE, Dubai and Abu Dhabi showed why they’re still heavyweight favourites for start-ups. Together they pulled in about $302.6 million, a tidy little increase of roughly 3% from the year before. Whether you were munching on a late-night shawarma along Sheikh Zayed Road or wandering around DIFC, the Emirates clearly remained a magnet for bright ideas.

Perhaps most intriguing was Oman’s meteoric rise. Quietly stealing the show, the country saw its start-up funding jump from just $2.7 million in 2023 to an incredible $39.8 million in 2024. Yep, you read that right—a staggering increase of around 1,374%. It seems Oman has definitely been eating its Weetabix.

One major trend across the region has been the growing interest in start-ups championing sustainability and inclusion. Whether this shift truly reshapes the entrepreneurial landscape remains to be seen, but it’s a promising step forward for those tackling global issues head-on.

So, while 2024 is already behind us, it left plenty of clues about where things might be heading. If you’re into your tech and entrepreneurship, there’s certainly loads to chew over—and probably plenty more suprises around the corner.